New Delhi, Dec 14 (ANI): Maldives Parliament Speaker Mohamed Nasheed called Chinese debt trap a "serious case". Speaking on it, Nasheed said, "During last 6-7 years, a large amount of Chinese funds have gone into Maldives as projects and most of these projects have inflated prices. Inflated to the extent that the business plan of any of these projects would fail. So, the assets created by debt are not equal to it, so we can't pay the debt." He further said, "When you are unable to pay debt, they ask for equity and with equity we very often relinquish land and sovereignty. It is a serious case. There is a pattern for this. We are worried and want Chinese authorities to address issue appropriately and only announce debt figure that is equivalent to the assets created in Maldives."
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